There are 5 big mistakes you can do that will kill a deal with a big fish. They are:
1. Not meeting the client’s expectations
2. Mishandling a client crisis
3. Taking on more than you can handle
4. Putting all your eggs in one basket
5. No resources to provide stock or refunds
Any one or combination of these can not only kill the partnership, but have the ability to take down your company as well.
If you need help with any of this, try my GUIDED TOUR to get all the help you could ever need. www.advancedbc.com.au/guidedtour
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Create your plan by doing these 6 items
1. Define Your Target Market – who they were previously, in your local or selling area and marketing opportunities with them
2. Write it Down – write who you are targeting and what are their emotional triggers
3. Identify your Value Proposition – why a customer chooses you. Are you unique with your product or service? If in doubt ask your customers.
4. Create Key Messages – these contain the key benefits you offer that the competition does not and research the landscape. Integrate this into PPC strategies, blogs, and other market messages
5. Scope Out the Competition – do a SWOT analysis of your competition (strength, Weakness, Opportunity, and Threat). Check their internet presence, ad campaigns, and use comparative software to analyze them. Talk to customers about their choices.
6. Check Out Your Digital Market – use keyword searches with google Keyword Took to generate relevant keyword lists to find the popular search terms around your keywords. Integrate the most popular words in your campaigns to trigger the search engines
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The Digital marketing PROFIT ACCELERATION FORMULA
There is a lot of white noise and distraction in our lives. It can be overwhelming and ambiguous worsening as the digital space grows to vie for our attention.
To avoid this dilemma all messages must have CONTEXT and relevance or it is more white noise.
Get context and reduce white noise
The process of selling and engaging with customers has shifted to an educational and informative approach. The importance of copywriting has increased working the heaven and hell hot buttons that tap into the conversations in a customer’s head.
Context positions the message to inform and educate customers to support an emotional decision to buy. Many marketers and information providers still don’t provide the context for how their information is relevant.
Providing Context focuses the reader and keeps them engaged while the logical side of the brain understands stores the relevance of the message.
Emotions stimulate the purchase decision while context provides the logical justification to validate a purchase and prevent buyers remorse post-purchase.
Context starts with defining your point of difference, your Offer, who is the recipient and, the relevance of what you are solving for them. Context cuts through the white noise.
Go to www.advancedbc.com.au/myguidedtour
Business owners are always time-challenged, have staff issues and, cash flow is a perpetual juggle. The old saying “if it is to be ..it’s up to me” has never been truer than for the business owner preparing to sell
Distraction is real, selling takes effort and additional focus to prepare the business for the selling process. This effort is above your normal operational work or day-to-day aspects where the tendency is to focus on the urgent things rather than the important issues that build long term value. Focus is a choice and discipline.
Understanding the Value of your business is critical. Most owners typically have an overinflated view of their business value until the market tells them otherwise. The majority of owners have the bulk of their wealth tied up in their business. Yet only 20% of those listed will sell and many will just close their doors. A lot of wealth is left on the table or lost.
Most owners procrastinate in developing an exit plan. This is natural as it can seem unpleasant, however, the stark reality occurs when there is death, sickness, divorce, or life-changing events when matters are forced. The outcomes can be devastating to an owner and tragic to the beneficiaries. This doesn’t have to be the case.
Alternatively, the sale or a business exit should just be a process of actually building the business. By having the result in mind it is easy from inception to continually grow the business correctly. Ask the daily question, “Will this decision enhance the value for an investor in the business?”
By consciously acting like a company that does everything to empower the shareholders it will naturally shape to being a valuable and saleable business.
Whether a total exit, management buyout, partial sell-down, or retained interest an owner will maximise their business value by making conscious decisions daily. Having an investor-ready business allows ‘opportunity to meet preparedness’ if an offer or situation presents itself. Exits take time, so start acting now for future benefit.
Get your business in shape at www.advancedbc.com.au/system
Sales are referred to as a numbers game.
Business is really about maths and knowing your numbers. Sales also reflect this and also the culture and leadership of a company.
Focusing on the right things can make a big difference in increasing your conversion rates, the number of transactions, the Average Sale Value, and margins. 92% of customer interactions happen over the phone.
Empowering the sales team
Sales teams need good training, good presentation skills, and the right offers to present to prospective customers. Did you know 99% of businesses are not clear on their market-dominating position? This unique difference is part of the culture and ethos the sales team will reflect on your clients. Do you know the Break-Even of your Sales Offers? Or the dramatic impact of any discounting on your gross profit?
Here are some specific things to do:
- Get skilled – Learn to sell and present. Get educated now and ongoing (increases sales by 50%)
- Have a specific ‘magic number’ of calls and follow-ups to be made in a month, broken down to weekly and daily amounts
- Track your activity – if it can be measured it can be managed. Accurate information in your CRM for follow up actions, campaigns, and deal progression
- Do you have multiple sales offers – a premium offer, Up-sell, Cross-sell, Down-sell, and bundles. Don’t get cornered with an objection and one offer.
- Be consistent – cold calls take on average 8 attempts
- Are the calls prioritized for the job – cold calls and prospecting Thursdays then Wednesdays, the best times are between 4 pm and 5 pm)
- Time management – break the call sessions into 45 minute blocks then check emails, etc
- Do some research before your call – out of respect and to gain insight for better conversations
- Listen to the client – You will stand out
- Follow Up – 80% of sales require 5 follow-up calls. 44% of sales reps give up after one follow-up.
- Challenge the client (higher conversion rates) on their thought or belief process. Challenging sells, farming doesn’t
- Tell more stories – Only 5% retain facts, stories are king
- Respond quickly to requests, leads, and inquiries – 30-50% of sales go to the vendor that responds first
- Never discount. It is a lazy culture, drastically impacts your gross profit. Instead, have alternate offers and bundles.
- Take the customer on a journey always with the next step. If you cant help then give them an alternative.
- Closing the deal – only 2 % of buyers purchase immediately the rest will need education and nurturing till they are ready.
- Pause when asking key questions or for the sale – silence elicits a response
- Drip Campaigns – all client contacts into a systematic routine to stay in touch and ‘top of mind’ with the customer
By implementing these sales tips you are on the way to being a world-class salesperson and becoming a valuable contributor to a company’s revenue capability. Your worth has also just increased